Sumitomo Mitsui Trust Group Inc. Has $74.75 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,607 shares of the oil and natural gas company's stock after purchasing an additional 16,348 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of Diamondback Energy worth $74,754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FANG. Price T Rowe Associates Inc. MD boosted its holdings in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after buying an additional 2,381,488 shares in the last quarter. Boston Partners lifted its stake in shares of Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock valued at $541,844,000 after purchasing an additional 1,916,900 shares during the period. Homestead Advisers Corp purchased a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $87,940,000. Diamond Hill Capital Management Inc. grew its stake in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock valued at $603,038,000 after buying an additional 415,902 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on FANG. Scotiabank lowered their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. UBS Group dropped their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a "neutral" rating and a $195.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They issued an "overweight" rating and a $182.00 price objective for the company. Finally, Susquehanna decreased their target price on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $209.64.

Diamondback Energy Trading Down 3.2 %

NASDAQ:FANG traded down $5.82 on Friday, hitting $176.60. 2,123,390 shares of the stock were exchanged, compared to its average volume of 1,753,036. The stock has a market capitalization of $51.57 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.30 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company's 50-day moving average price is $181.23 and its 200 day moving average price is $191.63.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $5.49 earnings per share. Diamondback Energy's quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 16.78 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy's dividend payout ratio is currently 20.61%.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company's stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company's stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.